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NTE building gas-fired plant in South Carolina

09 May 2018 20:50 (+01:00 GMT)
NTE building gas-fired plant in South Carolina

Houston, 9 May (Argus) — NTE Energy will build a 1,000MW natural gas-fired power plant in South Carolina, and plans to source fuel for the plant from the Transcontinental Gas pipeline (Transco).

Transco late last year started flows on its 241mn cf/d (7mn m³/d) Virginia Southside II expansion project in the mid-Atlantic US, which boosted flows into southern Virginia, North Carolina and South Carolina. And the pipeline's 1.7 Bcf/d Atlantic Sunrise expansion is on schedule to begin flows in July from Pennsylvania to markets in the mid-Atlantic and southeastern US.

Development and permitting for the $1bn Anderson County Energy Center is expected to take place over the next 18-24 months, with the facility coming on line in 2024.

The new plant would add to NTE's portfolio of other generation assets including the Kings Mountain Energy Center and the Reidsville Energy Center, both located in North Carolina. The Kings Mountain plant is expected to reach commercial operation in July, with the Reidsville plant expected to begin service in 2021.

NTE has executed long-term power purchase agreements with more than ten communities, and is in the final stages of negotiations with several others.

Spot natural gas prices at Transco zone 5 delivered so far this month have averaged $2.79/mmBtu, at an 8¢/mmBtu premium to the Henry Hub. The index includes deliveries from Transco between the Georgia-South Carolina border and the Virginia-Maryland border.